Business Education

What is a PEO Service and Does My Small Business Need One

What is a PEO Service and Does My Small Business Need One?

As a small business owner, you are constantly juggling a multitude of tasks, from managing finances and operations to overseeing marketing and sales. With so much on your plate, it can be difficult to keep up with all the administrative and HR responsibilities that come with running a business. And, this is where Professional Employer Organizations (PEOs) can step in and provide valuable support.

What is a PEO?

A PEO is a company that provides a comprehensive suite of human resource (HR) services to small and medium-sized businesses (SMBs). PEOs essentially act as an extension of your company’s HR department, handling tasks such as payroll, benefits administration, workers’ compensation, and employee relations. However, they don’t run your company. They don’t get involved in business decisions. Nor do they enter day-to-day operations – all of that remains your exclusive domain.

How Does a PEO Work?

So, when you partner with a PEO, you actually enter into a co-employment relationship. This means that the PEO becomes the legal employer of record for your employees, while you maintain control over day-to-day operations. The PEO usually assumes responsibility for all HR-related tasks, including:

Payroll processing and tax administration
Benefits administration and enrollment
Workers’ compensation insurance and claims management
HR compliance and regulatory guidance
Employee training and development
Recruitment and onboarding
Performance management
Employee relations and conflict resolution

Benefits of Using a PEO

There are numerous benefits to using a PEO, including:

Reduced administrative workload. PEOs take on the burden of HR administration, freeing up your time to focus on core business activities.
Access to expert HR resources. PEOs have a team of experienced HR professionals who can provide expert advice and guidance on a wide range of HR-related matters.
Improved compliance. PEOs ensure that your business is compliant with all federal, state, and local employment laws.
Reduced risk of HR-related lawsuits. PEOs have the expertise to handle HR issues effectively, reducing the risk of costly lawsuits.
Access to better benefits. PEOs often have access to better benefits at more affordable rates than small businesses can obtain on their own.
Streamlined onboarding and offboarding. PEOs can streamline the onboarding and offboarding process, making it easier to hire and terminate employees.

Does My Small Business Need a PEO?

Whether or not your small business needs a PEO depends on several factors, including your company’s size, growth plans, and HR needs. If your business has fewer than 50 employees and is experiencing rapid growth, a PEO can be a valuable asset. PEOs can also be beneficial for businesses that have complex HR needs or are facing HR challenges. Here are some questions to ask yourself to determine if a PEO is right for your business:

Do you have the time and resources to manage HR tasks effectively?
Are you confident in your ability to comply with all HR laws and regulations?
Are you concerned about the risk of HR-related lawsuits?
Would you like to access better benefits at more affordable rates?
Do you want to streamline the onboarding and offboarding process?

If you answered “yes” to any of these questions, then a PEO may just be a good fit for your business.

How to Choose a PEO

If you decide to use a PEO, it is important to choose a reputable and experienced provider. Here are some factors to consider when choosing a PEO:

Experience. How long has the PEO been in business?
Reputation. Does the PEO have a good reputation in the industry?
Services. What services does the PEO offer?
Costs. How much does the PEO charge for its services?
References. Can the PEO provide references from other small businesses that they have worked with?

Wrapping It All Up

PEOs can be a valuable resource for small businesses that are looking to reduce their administrative workload, improve HR compliance, and access better benefits. If you are considering using a PEO, be sure to do your research and choose a reputable provider that can meet your specific needs.

Now, do you want to grow your company in 2024 but you are not sure what is required to make that growth happen? Attend our “Planning for Growth” half-day workshop where you will get amazing details specific to your business for what’s needed from your marketing, your sales team, your production team, and your financial performance to enter 2024 with confidence you can indeed grow as planned. You will have the clarity you’ve always wanted but didn’t know how to create.

This is a $1495 value we are offering in November for only $99. Contact us for dates and times. We offer a 100% money-back guarantee if you don’t leave the workshop confident that you know what to do to grow your company in 2024.

So, go ahead and contact us by phone or email!

By phone 602-435-5474
By email: SteveM@WatersBusinessConsulting.com

Don’t wait! This is a great opportunity to propel your business forward!

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Learn this Uber London Quebec Business Lesson Right Now

October 4, 2017 No Comments

Uber just lost its operating license in London. Then, Quebec passed tough new regulations. That caused Uber to announce a cessation of operations starting next month. There are many cities, municipalities, and unions suing Uber. Their claim is the ride-share company isn’t restricted by the same rules as taxis and like services. However, Uber remains popular with the public. It provides a different experience and often for a lower cost. But, it is definitely learning taking on government regulations is no easy task. 4 Helpful Tips for Entering a Regulated Business Industry You might want to start a business to help people. And, that’s what many others do successfully. Although, if it’s in a heavily or even a moderately regulated industry, you’ll face several extra obstacles than entrepreneurs in different fields. The truth of the matter is, starting a business in any industry presents inherent risks. But, this certainly doesn’t mean it’s impossible. If you’re building a new social network, creating a tech-enabled food delivery business, or developing an artificial-intelligence translation tool, there aren’t many demanding rules to adhere to. But if your startup deals with issues such as health care, finance, or education, things can be rather more difficult. —MIT Technology Review It’s actually far from impossible. You just have to be realistic and pragmatic. In fact, you need to take many things into account before you jump into a regulated industry. After all, you’re chances of stumbling or outright failing are undoubtedly higher. That’s okay, if you take it as a challenge, you’ll probably get some worthwhile lessons along the way. Here are four helpful tips for entering a regulated business industry: Conduct extensive research. This should go without stating but sometimes the obvious really needs emphasis. You need to conduct a lot of research before you take step one. Knowledge is power and there’s nothing more damaging than ignorance. As the saying goes, “You don’t know what you don’t know.” And, that’s not a place to start. So, do all the research you can. Talk to people already thriving. Chances are excellent there’s already somebody, somewhere succeeding in that particular industry. Find him or her and personally reach out. Be upfront and honest about your ambitions. If you are respectful and open, they’ll be far more generous with important information. Start very small and scale up slowly. One bit of advice that works quite well in every industry is to start small and scale up incrementally. It’s very risky to jump right in, front-loaded with debt, and hope everything works out. So, start small, test the market, get to know it, and grow little by little. Keep abreast of all pertinent regulations. Regulations don’t necessarily stay the same. The rules can change at any time. Understanding and accepting this is key. Do yourself a huge favor and keep up with those changes so you aren’t taken by surprise. Have you built a business in a heavily regulated industry? What other advice do you have? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group. [shareaholic app=”follow_buttons” id=”26833294″]

Entrepreneurs Can Use These 5 Tricks to Fight Drowsy Days

September 14, 2017 No Comments

Everyone pushes through drowsy days. In fact, a study by the Centers for Disease Control and Prevention reveals 35 percent of adults ages 18 through 60 do not get the recommended 7 hours per night. That leads to a perpetual sense of tiredness. And, if this affects you, you know full well it’s not good for your productivity. But, if you’re unable to get a decent night’s sleep, you’ll need ways to cope to get through the workday. 5 Ways to Beat Drowsy Workdays There’s a lot you can stop doing to be successful in business. When it comes to sleep, you can also stop doing a few things. First and foremost, give yourself some tech-free time in the evening, particularly before you go to bed. About an hour before you go to sleep, turn off or silence your phone, tablet, laptop, desktop, and other devices. Also, get in a routine. Go to bed and wake up at the same time. We live in a fast-paced world where everything is quicker and more urgent. In leadership, in business, and in life, it seems we’re always behind: It needed to be done yesterday! It needs to be done now! Why isn’t it already done? Our days are hectic and our nights are busy. We constantly have to be on and available. Unsurprisingly, the side effects of this constant rush include an epidemic of fatigue. —Inc.com When you’re an entrepreneur, you work long, hard hours. And, it’s not easy to just relax and unwind at night when you have so much idle time. It’s natural to mull over the day and to plan ahead for tomorrow. But, you need a good night’s rest to be your best. However, you can’t let go and toss and turn through the night. Now, that familiar mid-afternoon 3 o’clock yawn grips you. What do you do? You need to make a good impression when you have a face-to-face meeting. Even if it’s just another day, without a big agenda, you might still need to fight fatigue. Here are a few helpful suggestions for beating those drowsy workdays: Leave your workspace. Being in the same environment for hours can easily lead to boredom (especially if you’re already tired). So, do yourself a favor and get outside. A walk around the block. A trip to the nearest mall for some quick window shopping. Just get out of the office for 15 or 20 minutes. Have a quick, healthy snack. Fruits, vegetables, and nuts are excellent sources of nutrition. And, some even help perk up your blood sugar levels. That’s enough to give you some more energy. It’s also a great way to counteract the effects of a big lunch that bogs you down. Do a little exercise. You don’t necessarily have to go outside to reinvigorate yourself (although it does really help). You can exercise right in your workspace. Do a few stretches and follow-up with some simple calisthenics. Tackle a few no-brainers. Tiredness can also be made worse by staying on a difficult task. One solution is to go with a few mundane chores. Take out the trash, clean the kitchen, organize your desk, anything that doesn’t require a lot of concentration will do the trick. Play some music. It’s a well-known fact that music stimulates the brain. And, it also impacts the body itself. So, put on some of your favorite tunes and get into the rhythm. Your attitude will quickly improve and you’ll feel reinvigorated. What do you do to power your way through a drowsy afternoon? What methods allow you to cope the best? Please share your thoughts and experiences by leaving a comment! Interested in learning more about business? Then just visit Waters Business Consulting Group. [shareaholic app=”follow_buttons” id=”26833294″]

7 Ways Entrepreneurs Can Deal with a Competitor Who Plays Unfair

March 20, 2025 No Comments

We tend to think of unfair trade practices as a multi-billion dollar corporation scheme. Mega companies like Microsoft, Facebook, Apple, and Google typically come to mind. And while it’s true these International entities do as much to monopolize their industries as possible, unfair practices can happen on a much smaller scale.